StepN (GMT) disabled? China has stopped moving for earnings

StepN (GMT) disabled?  China has stopped moving for earnings


Another Chinese ban – We don’t have to present anymore StepN project (GMT)which is already well known in the cryptosphere by popularizing the concept move-to-earn. In the case of StepN, it is an exchange for a walk or a race that users earning chips. But China does not seem to support the concept at all, and project teams have announced that they are forced to block their services in the country.

The Chinese are deprived of the motivation of StepN to play sports

WITH StepNit allows you a few minutes of walking or running win chips GST. Enough to motivate you to start playing sports a bit, or to do it with more regularity and interest.

Unfortunately, the Chinese will soon private says about this service ” move-to-earn The official twitter account of the project really does notification that StepN will no longer be able to provide related services GPS location users located in China. And this, from July 15 next.

“Mainland China Account Verification Notification.
Dear STEPN users:
In order to actively respond to applicable regulatory policies, StepN will conduct a census of application users. If users are found in mainland China, StepN will stop providing GPS positioning to their accounts at 24:00 on July 15, 2022 (UTC + 8), and the same will be done for the IP positioning service in accordance with the Terms of Service. . »

Twitter account @Stepnofficial

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GMT and GST courses are slapped

In this more than feverish crypto market, after UST and LUNA disasterenough panic sale StepN project tokens are present.

Management token, GMTis the one who has suffered more at the time of writing, passing from the neighborhood $ 1.40 before publication, if $ 0.85 a few hours later, on May 27. This corresponds to a decrease of -39%.

It is on the token side of the StepN utility GST, it’s just a little better. His price on Solana has gone almost $ 2.10 in about $ 1.50. Drop approx. -28.5% in a dozen hours.

GMT is declining following the announcement of StepN's withdrawal from China.
Price of GMT against USDT stablecoin (1h candle / Binance) – Source: tradingview.com

Will the Chinese, who are accustomed to bans and other bans decided by their only Party, be able to use StepN despite these restrictions? I’m not sure about that move-to-earn is largely based on counting physical movements in exchange for tokens. However, their rebel ingenuity. Because although the Chinese authorities officially ban bitcoin mining (BTC) and Proof of Work (PoW) cryptocurrencies in May 2021, China is already The 2nd largest consensus contributor to PoW in the BTC network.

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